Biomet adds jobs, floor space to Warsaw plant

Orthopedics device maker gets grants, tax breaks to expand in state.

Orthopedics device maker gets grants, tax breaks to expand in state.

October 17, 2006|ED RONCO Tribune Staff Writer

WARSAW -- Biomet Inc. will add 260 new jobs here as it works through a $21 million expansion, state officials announced Monday. The orthopedics device maker, which is based in Warsaw, is converting a 30,000-square-foot building northeast of its campus to manufacture spinal implants. It will cost about $1.2 million to convert the building and $3 million to buy equipment. The project brings with it 100 jobs and will be completed in about two years. Four years from now, the company also will have built a 60,000-square-foot addition onto the southwest corner of its existing plant. That's the second phase of the project and it will cost about $9 million to build and $8 million in equipment. The company hopes to add 160 jobs in that phase. The Indiana Economic Development Corp. -- formerly the state's Department of Commerce -- is giving the company $261,500 in training grants and up to $2.1 million in tax credits. The state also will offer $40,000 in infrastructure assistance to the local community. That infrastructure includes electrical and data lines, plus water and sewage work -- all standard things that won't be noticeable from the street. The low cost of doing business in Indiana and a "high-quality and dedicated work force" made the state the best location for the expansion, said a statement from Daniel P. Hann, the company's interim president and chief executive. State officials heralded the project as the latest in a string of economic victories for Indiana. The Indiana Economic Development Corp. has landed 148 projects so far this year that could have located in other states, the agency said. "We're closing a deal on average of one every other day," said Weston Sedgwick, a spokesman for the department. "As far as we know, they took a very serious look at New Jersey," he said. "We were able to put the best offer on the table and win this project." Biomet shares closed down a couple of dimes, ending Monday at $33.43 on the Nasdaq. Staff writer Ed Ronco: eronco@sbtinfo.com (574) 235-6467